Public Sector Pension Investment Board bought a new position in shares of Uniti Group Inc (NASDAQ:UNIT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 433,000 shares of the real estate investment trust’s stock, valued at approximately $3,555,000. Public Sector Pension Investment Board owned approximately 0.22% of Uniti Group as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of UNIT. Meeder Asset Management Inc. raised its position in Uniti Group by 2,168.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,445 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 5,205 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Uniti Group by 186.9% in the 4th quarter. Quantbot Technologies LP now owns 7,502 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 4,887 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Uniti Group in the 3rd quarter worth approximately $62,000. Beech Hill Advisors Inc. purchased a new stake in shares of Uniti Group in the 4th quarter worth approximately $82,000. Finally, Sigma Planning Corp purchased a new stake in shares of Uniti Group in the 4th quarter worth approximately $86,000. Institutional investors and hedge funds own 88.12% of the company’s stock.
Several analysts have commented on UNIT shares. Cowen upgraded Uniti Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $11.00 to $13.00 in a research note on Monday, March 2nd. BidaskClub downgraded Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 17th. Raymond James upgraded Uniti Group from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a research note on Monday, March 2nd. ValuEngine downgraded Uniti Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. upgraded Uniti Group to a “hold” rating and set a $8.00 target price on the stock in a research note on Friday, March 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.19.
Uniti Group stock traded down $0.11 during trading on Thursday, reaching $6.50. The company had a trading volume of 3,287,787 shares, compared to its average volume of 3,758,328. Uniti Group Inc has a 52 week low of $5.00 and a 52 week high of $12.79. The firm’s 50-day simple moving average is $8.35 and its 200 day simple moving average is $7.61. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 130.00 and a beta of 0.33.
Uniti Group (NASDAQ:UNIT) last announced its earnings results on Thursday, March 12th. The real estate investment trust reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.54). The company had revenue of $268.50 million during the quarter, compared to the consensus estimate of $273.78 million. Uniti Group had a negative return on equity of 0.60% and a net margin of 0.84%. Uniti Group’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. On average, sell-side analysts forecast that Uniti Group Inc will post 1.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.23%. Uniti Group’s payout ratio is 42.31%.
Uniti Group Company Profile
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
Featured Story: Call Option Volume
Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.